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Silver prices closed at approximately $30.63, with the metal expected to experience further downward movement. If this support level is breached, silver could decline toward $29.64, a key correctional target. This forecast is supported by the negative pressure from the 50-period exponential moving average (EMA50).
The outlook remains bearish for the near term, although a break above $31.63 would invalidate this scenario. Such a move would signal a shift, potentially allowing silver to regain its bullish momentum.
For today, silver is expected to trade within a range between support at $30.00 and resistance at $30.90. Traders will closely monitor these levels for any signs of a reversal or further decline.
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